Supply-Chain Crisis Is Bad for IPhones, Great for Gift Cards [Financial Post (Toronto, Ontario, Canada)]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: Financial Post
Which is good, because they're about to get lots of them. 16 best online deals in the Canadian retail space right now Advertisement In an economy hamstrung by all types of global supply-chain snarls, mounting product shortages — even Apple is reportedly slashing production — are making giving gift cards a fail-safe way to ensure there are presents under the Christmas tree. Shoppers plan to boost spending on them by 27% this holiday season to about $270 per person, according to a survey by payment service Blackhawk Network. Those gains will push cards to about 40% of their total gift purchases. Advertisement Article content “This holiday season is going to be huge” for gift cards, said Saumil Mehta, general manager for Square Inc.'s point-of-sale division. They aren't “as free-form as just handing someone a wad of cash. But it's not so specific either. It kind of comfortably sits in the middle.” If this gift card boom does materialize, recipients are likely to welcome it
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SQ
Earnings
- 2/22/24 - Beat
SQ
Sec Filings
- 4/15/24 - Form 8-K
- 4/4/24 - Form 4
- 4/4/24 - Form 4
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